In a big outreach to Bihar women ahead of the upcoming state assembly polls, Prime Minister Narendra Mod on Tuesday virtually launched the Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited. He also transferred Rs 105 crore into the institution’s bank account.
"...Today on Tuesday, a very auspicious work is being started. The mothers and sisters of Bihar are going to get a new facility today. Jeevika Nidhi Saakh Sahkari Sangh. Through this, sisters associated with Jeevika in every village will now get money more easily. They will get financial help. This will help a lot in furthering the work they do and the business they operate,” he said.
The launch comes after the Nitish Kumar-led government in Bihar recently approved a new scheme aimed at providing employment opportunities for women. Under this scheme, one woman from every family in the state will be provided financial assistance to start an occupation of her choice.
As the first instalment, each selected woman will receive 10,000 rupees to start her chosen employment activity. The process of receiving applications from interested women will begin soon.
Modi stated that the new cooperative will enhance the entrepreneurial skills of rural women associated with Self-Help Groups (SHGs) in Bihar. He emphasised that the NDA government in Bihar has consistently worked towards empowering women.
"The goal of establishing this cooperative is to provide easy access to funds at affordable interest rates for women in SHGs. All registered cluster-level federations of Jeevika will become members of this society. Both the Bihar government and the Centre will contribute funds to support the operation of the institution," an official statement noted.
Over the years, entrepreneurship has flourished among women associated with Jeevika’s self-help groups, resulting in the establishment of numerous small enterprises and producer companies in rural areas. However, these women entrepreneurs have often been forced to depend on microfinance institutions that charge high interest rates, ranging from 18% to 24%.
The Jeevika Nidhi has been conceived as an alternative financial system to lessen the reliance on microfinance institutions and to ensure the timely availability of larger loan amounts at lower interest rates, the statement added.
This new system will operate entirely on a digital platform, allowing for faster and more transparent fund transfers directly to the bank accounts of Jeevika Didis. To facilitate this process, 12,000 community cadres are being equipped with tablets, it stated.
This initiative is expected to strengthen entrepreneurship development among rural women and accelerate the growth of community-led enterprises. Approximately 20 lakh women from across the state witnessed the function virtually.
*With PTI inputs
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